If You Were to Want a Contract Set Aside, Which

question 8

Multiple Choice

If you were to want a contract set aside, which ONE of the following equitable remedies would you seek?

• A) A prohibitory injunction.
• B) An order of specific performance.
• C) An order of rescission.
• D) A mandatory injunction.

---

Definitions:

ASPE

Accounting Standards for Private Enterprises, a set of accounting practices and standards for private companies in Canada.

Consolidated Statement

Financial reports consolidating the assets, liabilities, and income of a parent organization along with its subsidiary companies, showing them as a single entity.

Goodwill Impairment

A write-down of the value of goodwill on a company's balance sheet when the fair value of the acquired company falls below the value recorded at the time of acquisition.

Gross Profit

Income remaining after the cost of goods sold has been deducted from total sales revenue, before deducting any operating expenses.